Published on May 17th, 2018 | by bitcoin0
How much Energy Does Bitccoin Really use?
(Photo: Marko Ahtisaari/Flickr) Last year, as the price of Bitcoin surged above $17,000, environmentalists began to take note that the cryptocurrency’s energy consumption was likely to skyrocket as well.
That’s because Bitcoin mining—the process by which Bitcoins are created and transactions tracked in a public ledger known as the blockchain—requires electricity.
ADVERTISEMENTThanks for watching!Visit WebsiteADVERTISEMENTThanks for watching!Visit Website As machines mine for Bitcoin, they can produce as much heat as a space heater.
But Bitcoin mining companies are usually no more transparent about energy expenditures for cooling than they are about mining.
Today Bitcoin goes for about $8,500—less than half of its peak value in December of last year.